A look at the headlines in the sector right now:
- Sensex closes 181 points higher, Nifty above 8500: ICICI Bank, Tata Steel and Maruti Suzuki India were among the biggest gainers.
- British oil explorer claims tax dispute with India hurt business, seeks Rs 37,400 crore compensation: Cairn Energy also declared that India ‘failed to uphold its obligations’ under the UK-India Investment Treaty by not giving its investments ‘fair treatment’.
- Logging into Pokémon GO using a Google account gives developer Niantic ‘full access’ to your data: The company admitted the coding error on iOS devices and said it was working on limiting the access it requests to just user IDs and email addresses.
- Nirma to buy stake in cement manufacturer Lafarge India for $1.4 billion: LafargeHolcim, the world’s largest cement maker, said the deal was part of its divestment plan for 2016 worth 3.5 billion Swiss franc.
- Arvind Panagariya could be named the next RBI governor: The announcement on who will succeed Raghuram Rajan is expected to be made by July 18.
- Centre tells Delhi High Court it has ordered a police inquiry into Essar tapping case: The court was hearing a petition filed by Supreme Court lawyer Suren Uppal, who has sought an SIT investigation into the matter.
- Myntra acquires content aggregation start-up Cubeit: The online fashion store did not reveal financial details of its third such acquisition of a tech start-up.